Opening Range Breakout

🧭 Overview

The Open Range Breakout (ORB) indicator is designed to capture and display the initial price range of the trading day (typically the first 15 minutes), and help traders identify breakout opportunities beyond this range. This is a popular strategy among intraday and momentum traders.

🔧 Features

📊 ORB High/Low Lines
Plots horizontal lines for the session’s high and low
🟩 Breakout Zones
Background highlights when price breaks above or below the range
🏷️ Breakout Labels
Text labels marking breakout events
🧭 Session Control
Customizable session input (default: 09:15–09:30 IST)
📍 ORB Line Labels
Text labels anchored to the ORB high and low lines (aligned right)
🔔 Alerts
Configurable alerts for breakout events
⚙️ Adjustable Settings
Show/hide background, labels, session window, etc.


⏱️ Session Logic
• The ORB range is calculated during a defined session window (default: 09:15–09:30).
• During this window, the highest high and lowest low are recorded as ORB High and ORB Low.

📈 Breakout Detection
• Breakout Above: Triggered when price crosses above the ORB High.
• Breakout Below: Triggered when price crosses below the ORB Low.
• Each breakout can trigger:
• A background highlight (green/red)
• A text label (“Breakout ↑” / “Breakout ↓”)
• An optional alert

🔔 Alerts

Two built-in alert conditions:
1. Breakout Above ORB High
• Message: "🔼 Price broke above ORB High: {{close}}"
2. Breakout Below ORB Low
• Message: "🔽 Price broke below ORB Low: {{close}}"

You can create alerts in TradingView by selecting these from the Add Alert window.

📌 Best Use Cases
• Intraday momentum trading
• Breakout and scalping strategies
• First 15-minute range traders (NSE, BSE markets)